MANAGEMENT UPDATE

                                            MANAGEMENT UPDATE
                                           THURSDAY, MARCH 25, 2010
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On February 22^nd, the new insurance policies went into effect for the period of February 2010 through February 2011. The property insurance policies period was changed back to the February renewal date, which is much more suitable than renewing during hurricane season.

The new sidewalk and stairway to the Rear Sun Deck was completed in late February. This project which was a combined effort of JJC Construction, CJ’s Portable Welding and Thompson and Thompson Fencing allows entry to this area without having to traverse through the Fitness and Spa areas.

Due to the high winds over the last month, the Board and Management were forced to come up with a quick solution to protect the tennis court screens and the Har-Tru material on the courts. It was determined that adding support rails to the bottom of the fences in these problem areas would be the solution. Thompson & Thompson Fencing installed railings, brackets and ties to better secure the fence and screens. Total for the project was 3,585.00 for materials and installation.

A recent inspection by the Palm Beach Fire Inspector prompted the POA to make a couple of corrections to existing conditions at a couple of locations of the common property. One of the corrections was to relocate one sprinkler and install an additional fire sprinkler on the stage at the Center, which was obstructed by the retractable screen and the other requirement was a five year inspection of the sprinkler systems in the Clubhouse and the Center, which involved physical inspection of the inside of the sprinkler pipes and valves. An additional correction was to install an emergency exit switch to allow persons to exit the Cabana Club gate without the use of card access system. Management contacted DiLo Fire Sprinkler Service, which corrected the problem in the Center and completed the inspections at a cost of $1,095.00.and TEM Systems installed the exit switch per code specifications at a cost of $767.50.

Fineline Electric has notified us that they have received the light fixtures and that the light poles will be delivered to Banyan Springs tomorrow. Fineline will be out to complete the installation of the street lights on Hickorywood Place , Laurelwood Place and Shadywood Place next week.

Frames Tree Service began the Annual Tree Trimming Project on Monday, March 22nd, beginning in Coach Homes, Lakeside 9, Lakeside 8, Clearbrook Village and will progress down Mangrove Drive , around Rosehill Drive , through Patio Villas and finally wind up at the Clubhouse. The project will take around 3 weeks to complete and consist of trimming palms and trees away from the buildings, thinning the trees for hurricane season and the removal of dead trees, as well as grinding of stumps.

The Amendment of the Declaration to expand POA Board Member terms from two to three years has been officially counted and approved by the membership. 484 of 658 Unit Owners, exceeds the required two thirds of the membership’s approval to change our Documents. The Certificate of Amendment has been certified, notarized on March 22^nd and has been sent to the Association’s Attorney for filing with the Palm Beach County , Clerk of Court. As soon as this process is completed, the Amendment becomes effective for the 2010 Election and expands the terms of Robert Dow, Harry Sassower and Mel Teitzman to three years with Joel Brusso having a term of two years. In 2011, three of the five Directors will serve three year terms, with the other two serving for one year only, then in 2012, three Directors will be elected and thereafter three Directors will be elected each year.

This week, the auditor of the 2009 Financial Statement for Banyan Springs POA contacted management informing us that they are in the final stages of preparing the audit and anticipate having the final draft ready for the Board to approve. Once approved by the Board, it will be made available to all interested members of Banyan Springs, and we will be posting its availability on notices around the Clubhouse, as well as on Channel 63.

Al Hoffer’s Pest Protection Services was in the community on Saturday, March 20^th for the quarterly White Fly treatment and will complete the total shrub care treatment today, as per our annual contract.

Management is currently gathering information and soliciting bids for installing collector tanks at the Cabana Club Spa and the Japanese Hot Tubs. The State, the County, as well as the Federal requirements that mandate that all spas and hot tubs built prior to 1993, be retrofitted with collector tanks as part of the Virginia Graeme Baker Act. Banyan Springs will be required to make these changes by July of 2011 in order to comply with the law. Fortunately, three of our spas are already in compliance with the mandate and will not have to undergo any modification, which is a rather expensive undertaking. Management will continue to keep the Board informed, as further information becomes available.

Respectfully submitted,

Rick Leach, L.C.A.M.

Property Manager